In comments to several publications this week, our Marty Green agreed with Federal Reserve Chairman Jerome Powell’s Senate Banking Committee testimony, suggesting interest rates may rise again if inflation data continues to run hotter than expected.
“Much like Sherman’s March to the Sea, the Federal Reserve march to higher rates is inevitable based on current data,” Green said.
Green’s insights on how the Fed’s actions will impact the housing market and mortgage rates continue to be widely quoted in the media.
“In response to the testimony, mortgage rates have once again increased to over 7%, a more than a 50-basis point increase in less than a month,” Green noted. “These elevated rates are likely to cool the Spring housing market just as it was about to get into full swing. Potential buyers would be well served to lock their interest rates, if possible, rather than face the uncertainty that higher rates might bring.”
Read Green’s most recent commentary in the following media outlets:
- Forbes Advisor – Fed Chair Powell Warns Congress Of Bigger Rate Hikes
- Scotsman Guide – Powell’s remarks to Congress suggest more rate hikes on horizon
- GlobeSt. – Powell’s Congressional Testimony Likely Means More Rate Hikes
- Mortgage Professional America – Long-term mortgage rates maintain upward trajectory